Fed&State Taxes (CA) and Insurance question.

ndnguy

ndnguy

New member
I live in California and am curious how state and federal taxes work for our service related business' (this question isn't just limited to californians). Also how does insurance work for us, and who do you all go through? What do you pay monthly?

I appreciate your help and time guys/gals!
 
Anyone? I know not all of you are working under the table here, lol. I really need a little guidence about taxes and what insurance I should go with (not to mention the pricing). Thanks again.

Shameless bump.
 
A lot of is dependent on how your business is set up. Are you set up as a sole proprietor or are you incorporated?
 
travisdecpn said:
A lot of is dependent on how your business is set up. Are you set up as a sole proprietor or are you incorporated?
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I would doing this as a sole proprietorship right now. But in the future I would consider incorporating, mostly to relieve myself from personally being liable.
 
ndnguy said:
I would doing this as a sole proprietorship right now. But in the future I would consider incorporating, mostly to relieve myself from personally being liable.
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In california, you are still held liable even when incorporated.
 
gbackus said:
In california, you are still held liable even when incorporated.
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Figures. LA, land of the sue-happy tribe.

What about insurance? What does everyone use? I'm sure there has to be some sort of insurance we can get right? Is it manditory? Those are the kind of things I am unsure about. And can't really find a straight answer about (for our industry).
 
It depends on the volume you are doing, wether you are at a fixed location, or mobile, etc. I'm covered for a very small amount of liability insurance as I'm mobile, but a fixed location costs a lot more. Also, wether you are mobile or fixed, you need MSDS sheets for all chemicals, and quite possibly OSHA complient bottles, etc.
 
gbackus said:
It depends on the volume you are doing, wether you are at a fixed location, or mobile, etc. I'm covered for a very small amount of liability insurance as I'm mobile, but a fixed location costs a lot more. Also, wether you are mobile or fixed, you need MSDS sheets for all chemicals, and quite possibly OSHA complient bottles, etc.
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MSDS Sheets? What are these? I'm going to be doing this mobile, so thats nice that the liabilty is lower (who do you use, how much does it cost you roughly each month?) The OSHA Bottles, I'm going to have to look into this, but I'm fairly sure they are alright (the ones i am using).

Thanks again gbackus!


Edit: After doing some searching I found the needed info on MSDS. Also, how do you handle taxes in California? I know we have a sales tax here but does that apply to service related business? I really appreciate your time and help Gback!!!

Edit2: The MSDS, is this something my supplier can provide me with, since it is HIS chemicals I'm working with (he makes his own). What if I move my supplier to Poorboys, does anyone know if they provide this with their products (good selling point perhaps?).
 
All Chemical suppliers must provide an MSDS sheet if asked for one, it's the law.

If you have more questions, PM me.
 
Is there anywhere on the web that I can look at MSDS sheets for specific products by name? Do the MSDS sheets relate to the end product or do they relate to the chemicals which are in the products we use. while I understand what a MSDS sheet is, I would prefer to look online even for products I would consider purchasing rather than wait until after.

Any suggestions would be greatly appreciated.
 
CrobarCars said:
Is there anywhere on the web that I can look at MSDS sheets for specific products by name? Do the MSDS sheets relate to the end product or do they relate to the chemicals which are in the products we use. while I understand what a MSDS sheet is, I would prefer to look online even for products I would consider purchasing rather than wait until after.

Any suggestions would be greatly appreciated.
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I know Meguiars has MSDS sheets for all their products available online .
 
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